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Social Security?

I saw this on facebook and found it very interesting. What do you think?

KEEP PASSING THIS AROUND UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT... THIS IS SURE SOMETHING TO THINK ABOUT!!!! THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE SOCIAL SECURITY IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED A SOCIAL SECURITY CHECK!!! WHERE DID THATMONEY GO?

Remember, not only did you and I contribute to Social Security, but your employer did, too. It totals 15% of your income before taxes. If you averaged only $30K over your working life, that's close to $220,500. Read that again!

Did you see where the Government paid in one single penny?

We are talking about the money you and your employer put in a Government bank to insure you and I that we would have a retirement check from the money we put in, not the Government. Now they are calling the money we put in an ENTITLEMENT when we reach the age to take it back.

If you calculate the future invested value of $4,500 per year (yours & your employer's contribution) at a simple 5% interest (less than what the Government pays on the money that it borrows), after 49 years of working you'd have $892,919.98. If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month. If you have a deceased spouses who died in their 50's -- their S.S. money will never have one cent drawn from what they paid into S.S. all their lives over the past 30 years!

THE FOLKS IN WASHINGTON HAVE PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADOFF EVER DID.

Entitlement my foot, I paid cash for my social security insurance! Just because they borrowed the money for other government spending, doesn't make my benefits some kind of charity or handout!!

We're "broke" and we can't help our own Seniors, Veterans, Orphans, or Homeless.Yet in the last few months we have provided aid to Haiti, Chile and Turkey. And now Pakistan......home of bin Laden. Literally, BILLIONS... if not TRILLIONS of DOLLARS are unaccounted for!!!

They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives, and now, when it's time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? It was supposed to be in a locked box, not part of the general fund.Sad isn't it. 99% of people won't have the guts to forward this. I'm in the 1% --I just did.

Being a full-time mother is one of the highest salaried jobs in my field, since the payment is pure love. ~Mildred B. Vermont

Yep. Both of my parents worked their entire lives, from the age of 16. My dad owned a small little business. He paid into for all those years and the died twos this before turning62 and did not ever collect a dime. My mother is still hard at work. He had private I stance through my mom and never used Medicare either. Took almost everything they had saved to try to beat cancer. Couldn't get any help because their house was paid for. Makes me angry.

I think congressmen should only get benefits while in office like most jobs. I don't get healthcare benefits still from the last two jobs I've had in ten years. I don't get a paid vacation or holiday. Seriously a huge chunk of government spending could be cut here. Fucking ridiculous.

People WILL raise hell. They are trying to do a lot of things, but things are going to boil over soon. There is only so much people will take. Remember, this is history repeating itself. I have been hearing this for years and it still hasn't happened. Doesn't mean its not going to, but I think they will be scared to do it because of the backlash they will get. The top earners put the most into it, they will freak!!!

The problem is that money each of us pays in now is paying for those already on SS... some of whom never worked. Each generation has to pay in more to cover those already receiving.... it's not your own benefits.

Social security started in 1935. What happened to all of the money that everybody is on social security now paid in? I mean, those who were born in 1935 are now 78 years old so pretty much everybody who is on it should have paid into it. And not all of them even made it to an age to draw social security!

The whole idea behind social security is you pay in so you can get that money back when you are retired. It's not to give money to the older generation.

Quoting conniejo75:

The problem is that money each of us pays in now is paying for those already on SS... some of whom never worked. Each generation has to pay in more to cover those already receiving.... it's not your own benefits.

Being a full-time mother is one of the highest salaried jobs in my field, since the payment is pure love. ~Mildred B. Vermont

The entire first generation that paid into it were paying for those who came before them. The next generation then paid for the first generation that paid into it. It began at one generation behind and has remained so.

Quoting JasonsMom2007:

Social security started in 1935. What happened to all of the money that everybody is on social security now paid in? I mean, those who were born in 1935 are now 78 years old so pretty much everybody who is on it should have paid into it. And not all of them even made it to an age to draw social security!

The whole idea behind social security is you pay in so you can get that money back when you are retired. It's not to give money to the older generation.

Quoting conniejo75:

The problem is that money each of us pays in now is paying for those already on SS... some of whom never worked. Each generation has to pay in more to cover those already receiving.... it's not your own benefits.

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